Like Thomas' deal, Sherman's contract extension is expected to make him the highest paid player at his position. The deal could potentially be worth more than $12 million a year, the current price tag that New England Patriots corner Darrelle Revis carries.

As one of the top defensive backs in the league and a rare shutdown corner, Sherman is very deserving of the deal. The Seahawks are eager to lock him up for the foreseeable future to ensure he is terrorizing opponents and not their own quarterback, Russell Wilson, who would likely be the next man up for a new deal once an extension with Sherman is reached.